"New LeTV" transformation screen ecology to family entertainment
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Recently, there have been significant changes at LeTV. On the 18th, under the leadership of Chairman Sun Hongbin, the newly appointed top management held a closed-door meeting. This meeting not only outlined the future direction of LeTV's business focus but also made strategic and positioning adjustments for core businesses such as LeTV and LeTV Video.
During the closed-door session, the new core team of LeTV.com was unveiled. Jun Le, who had just taken over as CEO of LeTV.com two months prior, emphasized that LeTV would henceforth focus on home-based internet entertainment rather than continuing with the traditional model of purchasing copyrights and selling advertisements. The newly rebranded “LeTV†also aims to foster unity as part of its new corporate culture.
At the company meeting, the “OpenEco†strategy centered around the big-screen ecosystem was clearly articulated. Currently, LeTV’s large-screen ecosystem has already integrated service providers such as CIBN and Hua Digital TV. According to data from the LeTron Intelligent Terminal Research Institute, 89% of CIBN content on Super TV is accessed through non-APP small C desktops and other portal platforms.
It was reported that LeTV’s new strategy is shifting from a broad approach to a more focused one. The once expansive seven-ecosphere, which spread its tentacles in every direction, now resembles a dumbbell. One end represents the television business, while the other represents the film industry and self-produced content. LeTV Video serves as the connecting rod between these two ends, binding them together to create truly valuable business opportunities.
Regarding the adjustments within LeTV, the company stated that it would enhance its self-production capabilities alongside Huace Television, continuing to produce its own films and TV series. Additionally, it plans to tailor movies suitable for family screen users for the Super TV business, helping listed companies address their unique content needs and drive membership revenue. The company further stated that LeTV no longer sees itself as merely a film and television company but has elevated its status to that of an IP operation company with video content as its primary medium.
Furthermore, LeTV Video will shift its focus from the competitive mobile terminal market to the larger screen sector. The company explained that LeTV currently boasts a stable user base on TVs, generating hundreds of millions of dollars annually for the company.
Thus, during a period when copyright prices remain high, LeTV Video no longer needs to be confined to the mobile platform. Instead, it can concentrate on the big-screen market, leveraging its existing strengths to maximize potential revenue streams.